Commercial security.



PATENT ED MAY 31, 1904. J. DUNNE.

' COMMERCIAL SECURITIES. APPLICATION FILED um. so. 1904.

N0 IODBL. 3 SHEETS-SHEET l.

BLANK MANUFACTQR'ING COMPANY; 219 FrunKlm Slfeel.

NemrYarKJammfy 101k .1904. Messrs. A. B. 8:00.,

BLANK MANUFACTURING COMPANY.

- J. D WcWIZZ/FJ' New YorK, Junmq/ M11904. BLANK MANUFACTURING COMPANY,

4 lnvoice M10500? oodssoldysunderdufenf dqnuwy7,1904,'am0llnh!1q f0'IfflASMdupHmfP herefo a uLhedyisaf handwe huve'nhecKed affrhe googlsrecewud by us (hereunder, and nofe he condiflons,prices and ferms all ofwhlch wefind correct B.?:( (20.

No. 761,212. PATENTED MAY 31, 1904.

J. DUNNB.

GOMMERGIAL SECURITIES.

v I APPLIOATION. FILED MAR. 30. 1904.

N0 MODEL. 3 SHEETS-SHEET 2. I

No claim for damages. Shorfaqe, inferiurily of qoodsto sampleshowmflrrors in price, will be 01- lowed unlesi made wlihin IOduysaflfzr 00000 0005,

When wnhnq concerning goods mm 00010110 and dafe 0P mvolce,

N ew YorK, January 7,1904. Messrs. RB. 8((30.

775-779 Slxfi'z HvenueJlew York,

Bbuqld 0r BLANK MANUFACTURING COMPANY, Z19 FRHNKLIN STREET.

Sa!e sman Ira/010e,- 800K "folio Insured Shipped v10 Trms Payable 10 NewWK Oify Fund;

500 ds, 1200000000, Red, 35 c, 1750.00 500 Yak. u :0 BILL? 556, 1750.00I 700 (00. 0 0 Whlfe, 05-0. 2450.00 1000x040, u 0 Navy Blue, 55 0,5500.00

.No. 761,212. PATENTED MAY 31, 1904.

' J. DUNNE.

COMMERCIAL SECURITIES.

APPLICATION FILED MAR. 30, 1904.. v 10 MODEL. s SHEETS-SHEET a.

'Iknow all men by tbeze llbresents, can under and pnrsuanflo llreaullrorlly duly granled by if: Board of DlrecTorsJne Blank ManalaclurmgCompany, a corporalion duly cneorporaled, oranlyed and ensllng under TheLaws olllao Slale of New Jersey, far ma//waq%1 nas sold, ass: nea,Transferred and set over, and-0y These presenls,lcer'eby does sellassignjranser and sel over ualo Tho C Dflnance Carpalanon,No.350Broadway, New York 6lly,lls successors anaasylgns, all andslngalarlls rlglcl, lllle and lnleresl in and lolne sales accoanl(Inc/one 0.1050) for goods sold and delivered unlo Aha 60 777-779 ScxllaAvenue, Near YorK- Ccly (herelo annexed, .formr'nq ar hereof, and markedEx.A.) (Zl'llas gaoranleed, and by These presenls hereby does gnacanleeThe r prompl paymenl thereofi when samelalls due, 1n accordance an onterms and candifions of sale; anats) has aullcon'3ed, and by llresepresenls hereby aloes anon The 6.0. finance qorporalron, ils successorsor assigns, il netcessaryso lo. clo,ln the name of sale] assrgnorcompany or olh'erwise. lo demananae lor, recover and enloy all moneysdue andlo grow dueon said sales account hereby assrgned.-

In will? wMmLmeBlonK Mannlaolurinq Company has caused llcese presenls'fohe execulea by ils duly anlhorigea officers, and 'rls oorporale seal forbe nerennn allixedJhls 1001 day ol January 1904.

[Sim] BLANK MANUFHCTURlNG COMPHNY.

By J .11., Wear/1W."

for value 1Receivc20.'(oeing nerelo duly aullcor'r ed b in Board oFDireclors,)Tho C.D.finance Corporation hereby assigns, lranslers and o esels over unlo llce Universal Trosl Company, 79 WallSlreel New \aJrKGily, all and slnqalar ils riqhl. lllle andlnleresl 1n and lo llce salesaccount Invoice M01050) 0 menlioned andrlescr'rbea in llce foregoingossignmenl,and focali e consiaeralr'on, 5/ hereby qaaranlees The paymenlof such accounl when due in accordance willo llre [arms and condillonsol lhe sale.

'Iln milnws whereofl'rne CD. finance-Corporalion has caused lhese sealslobe execale'd by'rls duly aaaon a olhcers, and as oorporale seal a noerennlo allixed,llris lOladay of January, 1904.

a [sane] we C.D.FrNHNcE CORPORATION,

' Y By 'HB. Wmrz/M':

Patented 1VlIay 31, 1904.

PATENT OFFICE.

' JAMES DUNNE, OF NEW YORK, N. Y.

COMMERCIAL SECURITY.

SPECIFICATION forming part of Letters Patent No. 761,212, dated May 31,1904.

Application filed March 30, 1904 I Serial No. 200,720- (No specimens.) I

To all whom it may concern:

Be it known that 1, JAMES DUNNE, a citizen of the United States,residing in the city, county, and State of New York, have invented acertain new and useful Improvement in Commercial Securities, of whichthe following is a specification.

This invention has relation to a substitute for three-name negotiablepaper, by the use of which a merchant can quickly and easily obtain cashon an open account, while at the same time the lender of money is fullysecured.

One advantage of the improved means hereinafter described is that itinvolves no directions or order for payment by the purchaser to a bank.The merchant is thus screened, and the fact of his asking for a loan iskept secret.

Another advantage of this improvement is that its use involves a receiptand the creation of a written contract on the part of the buyer that hewill pay.

The preferred form taken by the improvement in question is shown in theaccompanying drawings, wherein Figure 1 shows a specimen of theconfirmation-blank with the letter of transmittal preferablyaccompanying the same. Fig. 2 is a specimen invoice or bill forming apart of this improved means, and Fig. 3 is a specimen assignment andreassignment as used to complete the commercial security for moneyloaned.

In the transaction supposed to be carried out by the papers shown in thedrawings the Blank Manufacturing Company has sold to A B & Co. goods tothe value of nine thousand four hundred and fifty dollars. For this aninvoice (shown at 1) is sent to the purchaser and a duplicate ispreferably sent with it, as is indicated by the terms of the letter oftransmittal, (shown at 2 in Fig. 1.) Together with the invoice there issent a voucher or confirmation-blank, (shown at 3 in Fig. 1,) whichafter signature by the purchaser A B & Co. becomes an acknowledgment ofreceipt and indebtedness, to a great extent equivalent to a promissorynote. The invoice is checked off by the purchaser in conformity with theletter of transmittal, and if found correct the duplicate is returnedwith the confirmation-blank, the latter having been duly signed. Theoriginal invoice is kept by the purchaser, and I prefer to also supply aduplicate confirmation-blank as well to be retained by the purchaser forhis own information. It is to be observed that none of these paperscontain any authorization or order for payment by the purchaser to atrust company or b ank. Thus the seller can either use the open accountfor securing a loan, as hereinafter described, or not, as he pleases.Moreover, there is no intimation to the buyer or others that the selleris embarrassed at all.

The third element of this device consists of the assignment blank.(Shown in Fig. 3.) This includes the first assignment, (shown at 4,)wherein the seller assigns all right to payment by the purchaser to a.finance corporation and wherein the seller further guarantees paymentby said purchaser. Preferably (but not essentially) on the same paperwith this first assignment there is placed a second assignment 5 orreassignment, wherein the finance corporation assigns the account to atrust company or bank and guarantees payment of the amount. It will beseen that by the use of the above-described means the bank holds assecurity what is the virtual equivalent of a threename promissory note.The confirmationblank duly signed is an original promise to pay andacknowledgment that no defense to the claim exists. The first assignmentmakes the seller, Blank Manufacturing Company, a guarantor and thereassignment adds the guarantee of a third name -that is, of the financecorporation. The seller and the finance corporation thus occupy theposition of indorsers of a note.

What I claim is 1. The herein-described commercial security comprisingan invoice, a confirmationblank acknowledging receipt and correctness ofthe invoice, an assignment to a finance corporation of the account,containing a guarantee by the seller of payment of the bill and areassignment containing a like guarantee by the finance corporation,substantially as described. I r

2. The herein-described commercial security, comprising an invoice induplicate, a confirmation-blank also in duplicate acknowledga lender andmaking a like guarantee on the ing receipt and correctness of the 1nv.o1 ce,,- and part of the finance corporation, a single paper containingan assignment and a reassignment, said assignment making over 7 JAMED'DUNNE' the account toa finance corporation and guar- Witnesses: antceingpayment on the part of the seller and H. S. MAOKAYE,

said reassignment making over said account to FLORENCE PICK.

